1. Assess Your Finances

• Check Your Credit Score: A strong credit score will get you better mortgage rates. Aim for 620 or higher, though some loans allow for lower scores.

• Debt-to-Income Ratio (DTI): Keep your DTI below 43% for better approval chances.

• Savings: Make sure you have enough for a down payment, closing costs, and an emergency fund for unexpected expenses.

2. Set a Budget

• Mortgage Calculator: Use a mortgage calculator to estimate your monthly payments based on your income and debts.

• Down Payment: Typically, down payments range from 3% to 20% of the home’s price, depending on your loan type.

• Additional Costs: Factor in property taxes, homeowners insurance, and maintenance.

3. Get Pre-Approved for a Mortgage

• Pre-Approval vs. Pre-Qualification: A pre-approval gives you a more accurate estimate of how much you can borrow and shows sellers you’re serious.

• Loan Options: Work with your lender to explore different mortgage options, such as conventional loans, FHA, VA, or USDA loans.

4. Hire a Real Estate Agent

• Find a Trusted Agent: A good agent knows the local market and can guide you through the buying process, including negotiations and paperwork.  Your loan officer can make a recommendation for you.

• Understand Their Role: Agents help you find homes, schedule tours, make offers, and ensure the deal moves smoothly.

5. Search for Homes

• Start Online: Use websites like Zillow, Redfin, or local listings to explore homes.

• Neighborhood Research: Look into schools, amenities, commute times, and safety in areas you’re considering.

• Visit Open Houses: Walk through homes to get a feel for the layout, condition, and surrounding area.

6. Make an Offer

• Work with Your Agent: Your real estate agent will help draft an offer based on comparable homes in the area, seller motivation, and your budget.

• Negotiations: Be prepared for counteroffers and negotiations on price, closing costs, or repairs.

7. Conduct Home Inspections

• Hire a Licensed Inspector: Ensure the home is structurally sound and free of major issues.

• Review the Inspection Report: If the inspection reveals significant problems, you can renegotiate or request repairs from the seller.

8. Finalize Your Loan

• Lock in Your Interest Rate: Once your offer is accepted, lock in a mortgage interest rate.

• Underwriting Process: The lender will review your finances and documents before finalizing the loan.

• Home Appraisal: The lender will order an appraisal to confirm the home’s value aligns with the loan amount.

9. Close the Deal

• Review Closing Disclosure: You’ll receive this document three days before closing, outlining all loan details, including Cash to Close.

• Bring Cash to Close: This includes your down payment, closing costs, and any prepaid items such as taxes or insurance.

• Sign Closing Documents: Finalize the paperwork and receive the keys to your new home!